This study investigates the influence of managerial incentives to meet or beat the zero earnings benchmark on labor cost behavior of private Belgian firms. We posit that relative to managers of firms reporting healthy profits, managers meeting or beating the zero earnings benchmark will increase...

This article examines the regulation of directors remuneration in EU, UK and Belgian law. The author argues that there are two categorises of norms for the regulatory framework of directors remuneration: one is market-based, market efficiency norms of agency costs; the other is socio-legal...

The aim of this paper is to investigate the impact of managers' participation in costing system design on their perceived contributions to process improvement. Drawing on the literature on business process management, participative decision making and self-determination theory, we propose that...

This research analyses small and medium enterprises directors' sensitivity to CSR, and more specifically to workplace wellbeing and risk management. We conducted a questionnaire survey of 1,800 directors of Belgian small and medium enterprises to determine their perceptions and actions regarding...

Principle-agent theory suggests managers might under-invest into R&D for reasons of risk tied to project failure, such as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying higher remuneration, power and prestige. Using a sample...

Pre-World War I Belgium was characterized by a strong concentration of power in the hands of a small elite with ties to business, banks, and politics. We find that political and upper class connections were widespread amongst listed firms, especially connections with the ruling political party....